UK games services firm Keywords Studios starts trading on London AIM today.
On admission to the London Stock Exchange the market cap of the business will be £49.2m.
This follows a successful conditional Placing, at a placing price of 123p, which raised estimated gross proceeds of £28m, including £10m receivable by the firm.
It’s one of two UK games businesses to float this week – Keywords starts trading today, then on Monday Frontier Developments will go live on AIM too.
Andrew Day, CEO of Keywords Studios, said: “We saw strong interest from a series of blue chip investors and it is testament to the growth story of the Company that we have succeeded in our ambitions to become a listed company.
“Keywords Studios serves a global customer base of video games producers, yet the games service provider industry remains fragmented. Our IPO marks the next stage in the Company’s evolution as we look to take a leading role in the industry’s consolidation and to extend our existing offering in an expanding market.”